Can an Electric Vehicle Really Save You Money?

At first glance, electric vehicles (EVs) can seem pricey - especially when compared to petrol or diesel cars. But look closer and you'll find that switching to an EV isn’t just good for the planet, it’s surprisingly good for your wallet too.

In this guide, we’ll unpack how EV drivers can save on everything from running costs to tax. If you’ve been wondering “can I save money by switching to an electric vehicle?” - you’re in the right place.

Don’t Buy It - Salary Sacrifice It

Yes, EVs can be expensive up front. But you don’t have to buy one outright.

One of the most cost-effective ways to get behind the wheel of an electric car is through a salary sacrifice scheme - similar to Cycle to Work but with a lot more range. You get access to a new electric car as an employee benefit, and payments are taken from your gross salary before tax.

That means:

• Lower income tax
• Lower national insurance
• Less financial stress

Roam has partnered with The Electric Car Scheme making it simple for employers to offer salary sacrifice packages to their teams. So if this sounds like something you’re into, have a word with your HR department - they might already be set up to help.

Fuel Cost: EVs Are Still Cheaper to Run

One of the biggest savings comes from fuel. Let’s compare the cost per mile for a typical petrol car vs an electric car in the UK.

💡 That’s an £800 annual saving just on fuel.

Not everyone has a private driveway or home charger - and that’s okay. Roam’s network of public EV chargers across residential bays and multi-tenant buildings means affordable, reliable charging is within reach, even if you live in a flat or city centre apartment.

What About Maintenance?

Electric vehicles are simpler machines. With fewer moving parts, no oil changes, and no complex combustion engines, they require much less maintenance than petrol or diesel cars.

Common savings include:

• No engine oil = no oil changes
• No clutch = no clutch replacements
• No exhaust = no exhaust issues

Over a few years, that could save you hundreds - even thousands - in servicing and repair costs.

Road Tax: What You’ll Pay from April 2025

As of April 1st, 2025, electric vehicles are no longer exempt from Vehicle Excise Duty (VED). Here's what the new road tax structure looks like:

*For new EVs costing over £40,000, an additional £425 “expensive car supplement” applies from years 2–6.

Tax Savings: EVs Keep More in Your Pocket

Electric vehicles are still a winner when it comes to Benefit-in-Kind (BiK) tax - the tax you pay on company cars. If you get your EV through a salary sacrifice scheme, BiK is incredibly low.

BiK Tax Rates for EVs:

• 2024/25: 2%
• 2025/26: 3%
• 2026/27: 4%
• 2027/28: 5%

In comparison, petrol and diesel vehicles can attract BiK rates of up to 37%.

For example, if your current petrol car costs you £1,200 a year in BiK, a similar electric vehicle could cost as little as £80–£300 per year — depending on when you switch.

Other Money-Saving Perks

• Congestion Charge exemption</strong> in London (registration required)
• ULEZ zone access without penalty
• Free access to clean air zones in many UK cities

So, Can You Really Save Money With an EV?

Let’s do the maths based on a typical 10,000-mile-a-year driver:

💸 That’s over £2,000 in annual savings - and possibly more if fuel prices continue to rise.

Ready to Make the Switch?

Whether you're looking to reduce your carbon footprint, save on your commute, or just skip the petrol station queues - switching to an electric vehicle makes financial sense.

And Roam’s nationwide charging network means reliable access across the UK. Curious how charging works? Start with our guide to EV battery sizes and charging times.

Final Word

While the sticker price of an electric car might be higher, the real cost of ownership tells a different story. From reduced fuel and tax bills to simplified maintenance, going electric could be one of the smartest financial decisions you make.

Speak to your employer about salary sacrifice options and join the growing number of UK drivers already enjoying the benefits of electric driving.

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